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Putting admission goodwill adjustment into revaluation account will make which account's result incorrect?

Answer and explanation

Correct answer: Revaluation account

Revaluation account is only for changes in asset and liability values. Putting goodwill compensation there makes revaluation profit or loss incorrect.

Related tags

Revaluation AccountGoodwill AdjustmentCommon MistakeGoodwill AccountingReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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